MP3tunes.com has filed for bankruptcy. The company has been involved in a legal battle with EMI for operating their service without a license.
MP3tunes.com essentially offered an online locker for digital media files. The idea was to let people store their music online and then access it from any device connected to the web.
Today, we have several big players offering a similar service. Amazon Cloud Player and Google Music both offer similar services and do not have a license from the labels for the same.
MP3tunes.com spoke about the new developments:
Four and a half years of legal costs and we’re not even out of trial. Mp3tunes has no choice but to file…. This is what they do. The labels engage in multi-year legal battles and put small companies through hell for years.